Risk Management

Risk management seeks to identify, assess, and manage the impacts
of credit risk, operational risk, and market risk on the business
of city government. Risks are mitigated by having
policies in place to protect:

Personnel

Property

Insurance

Vehicles

Volunteers

Risk management gives comfort to stakeholders (shareholders,
customers, employees and so on) that the business is being effectively
managed and helps the organization confirm its compliance with
corporate governance requirements.

Risk Management is relevant to all organizations whether they
are in the public or private sector, or whether they are large
or small. It should form part of the culture of the organization,
with an effective policy and program led by top management with
clear responsibilities laid down for every manager and employee
to be involved in the management of risk. It supports accountability,
performance measurement and reward thus promoting efficiency
at all levels.